This is not good news for Snap Inc. The parent company of Snapchat saw its shares tumble in after-hours trading today after it reported disappointing user growth in its Q2 2017 earnings. It’s only the second earnings report since Snap went public in March, and hopes for a turnaround are deteriorating. Shares fell to $11.90 after … Continue reading “Snap stock is tanking again after user growth slows down”

This is not good news for Snap Inc. The parent company of Snapchat saw its shares tumble in after-hours trading today after it reported disappointing user growth in its Q2 2017 earnings. It’s only the second earnings report since Snap went public in March, and hopes for a turnaround are deteriorating. Shares fell to $11.90 after hours, an all-time low. Snap debuted on the NYSE at $17 a share. It fell below that price a month ago and hasn’t recovered. The company reported daily active users growth of 7 million to 173 million total, but analysts were expecting about 8 million new users, CNBCreports. You can check out Snap’s full earnings release here. We’ll have more after the call later today.